Pharmaceutical industry plans are a shot in the arm

Qingpu District has mapped out its goals for the development of the pharmaceutical industry at a conference on October 12.

The Qingpu Biomedical Industry Development Conference brought government, researchers and industry insiders together as part of the 2021 Shanghai International Biopharma Industry Week.

Agreements on eight biomedicine projects, involving an investment of 3.68 billion yuan, were signed at the conference.

New plans for high-quality development of biomedical industry in Qingpu was released at the conference.

The district aims to achieve a target of 8 percent annual growth in the output value of above-scale enterprises (with an annual main revenue of over 20 million yuan or US$3.1 million) in the biomedicine manufacturing industry, exceeding 16 billion yuan (US$2.5 billion), by 2023. There is another aim to see the public listing of two new biomedical enterprises by the end of 2023.

In addition, the conference emphasized on shaping the suburban district into a multi-faceted and competitive pioneer of biomedical manufacturing.

To reach this goal, Qingpu will bolster development in three main areas: medicine (with a focus on modern practices of traditional Chinese medicine), medical equipment, as well as business development.

"The period between 2021 and 2025 is vital for Shanghai's building of a world-class biomedicine industry cluster, and Qingpu is implementing an all-round leapfrog, high-quality development strategy with business environment improved continuously and soft power lifted," said Yang Xiaojing, deputy Party secretary and acting director of Qingpu.

"The biomedicine industry in Qingpu will have a better development environment, and biomedicine enterprises in the district will enjoy more development opportunities," said Yang.

The need to implement certain regulatory measures was also emphasized at the conference.

"Qingpu has a good foundation for further industrial developments," said Zhao Yanjun, deputy director of the Shanghai Drug Administration Bureau. "To accelerate the global influence of our biomedical industry, it is vital to promote innovative review practices in our system to prioritize safety and development."

Agreements on eight biomedicine projects, involving an investment of 3.68 billion yuan, were signed at the conference.